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IBM launches $500M Enterprise AI venture fund

IBM has launched a $500 million venture fund aimed at investing in AI enterprises ranging from early-stage startups to those experiencing rapid growth, with a focus on advancing generative AI technology for businesses.

The IBM Enterprise AI Venture Fund is set to channel resources into AI companies poised to influence business transformation, according to the company. The fund will offer startups opportunities for partnership development with IBM and provide access to insights on product engineering and market strategies.

[Image courtesy: IBM]

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Mizuho, IBM develop AI system for banking error detection

Mizuho and IBM have collaborated to develop a proof of concept (PoC) system that utilizes watsonx, IBM's enterprise generative AI and data platform, to enhance the efficiency and accuracy of Mizuho's event detection operations.

Lumos raises $35M

San Francisco, CA-based access management platform provider Lumos has raised $35 million in Series B financing.

Aerodome raises $21.5M

Aerodome, a Los Angeles, CA-based company specializing in Drone-As-First-Responder (DFR) technology, has secured $21.5 million in a Series A funding round.

Uncle Sam to inject $50M into auto-patcher for hospital IT — The Register

The US government's Advanced Research Projects Agency for Health (ARPA-H) has pledged more than $50 million to fund the development of technology that aims to automate the process of securing hospital IT environments, writes Jessica Lyons in The Register.